In the lead up to International Fraud Awareness Week (12-16 November), McGrathNicol’s Financial Crime Exchange (FCX) hosted over 200 senior executives to hear from Michael Woodford, former Olympus CEO and whistleblower, who shared his experience of uncovering an accounting fraud approaching $2 billion.
In blowing the whistle and exposing the scandal, Michael lost his job, the Olympus share price plummeted and the entire Board was forced to resign. Michael’s story was both hilarious and terrifying, and his account of events is published in his book ‘Exposure’.
In Australia, companies are dealing with considerable regulator and media scrutiny. What are the expectations of our business leaders? To examine this, following his presentation, Michael was joined on a discussion panel by the Hon. Justice Brigitte Markovic of the Federal Court of Australia and UNSW Business School Professor Clinton Free. View the video below to hear part of Michael’s story and key takeaways from the senior executives in attendance.
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